Bernstein Liebhard LLP Announces Investigation of Acquisition of Argon St Inc. by Boeing Co.
June 30, 2010
Bernstein Liebhard LLP is investigating whether the Board of Directors of Argon ST Inc. (“Argon” or the “Company”) (NASDAQ: STST) breached its fiduciary duty to its shareholders in agreeing to sell Argon to Boeing Co. (“Boeing”) (NYSE: BA).
Under the terms of the agreement, Argon shareholders will receive $34.50 in cash for each share they own, placing the total value of the transaction at approximately $775 million. The Company had revenue of $366 million in fiscal 2009. The investigation is focused on the potential unfairness of the price to Argon shareholders and the process by which the Argon Board of Directors considered and approved the transaction.
If you are interested in discussing your rights as an Argon shareholder and/or have information relating to the matter, please contact U. Seth Ottensoser at (877) 779-1414 or Ottensoser@bernlieb.com.
Bernstein Liebhard has pursued hundreds of securities, consumer and shareholder rights cases and recovered almost $3 billion for its clients. It has been named to The National Law Journal’s “Plaintiffs’ Hot List” in each of the last seven years.